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ExxonMobil Maintains Dividend, Even After Q2 Billion-Dollar Loss

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ExxonMobil Maintains Dividend, Even After Q2 Billion-Dollar Loss

Everybody knew that Q2 2020 was going to be bad for oil companies. But most weren't expecting ExxonMobil's (NYSE: XOM) results to be quite this bad. The oil giant reported a $1.1 billion Q2 loss, or $0.70 a share. It was ExxonMobil's second quarterly loss in a row, worse than analysts' consensus of a loss of $0.63 a share. In a press release, ExxonMobil blamed "global oversupply and COVID-related demand impacts" for the poor performance.

Despite the loss, the company had already announced that it would maintain its quarterly dividend of $0.87 a share for Q3 2020, unchanged since Q3 2019.

Image source: Getty Images.

Source Fool.com

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